(CNBC) — Famed investor Michael Burry on Monday revealed a short position against Tesla worth more than half a billion, in a regulatory filing.
Burry, one of the first investors to call and profit from the subprime mortgage crisis, is long puts against 800,100 shares of Tesla or $534 million by the end of the first quarter, according to the filing with the U.S. Securities and Exchange Commission.
Investors profit from puts when the underlying securities fall in prices. As of March 31, Burry owned 8,001 put contracts, with unknown value, strike price, or expiry, according to the filing.
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Source: World Net Daily